Consolidated Uranium Announces Proposed Spin-Out of Premier American Uranium, Creating a New Pure-Play U.S. Uranium Company

TORONTO, May 24, 2023 (GLOBE NEWSWIRE) — Consolidated Uranium Inc. (“CUR”, the “Company” or “Consolidated Uranium”) (TSXV: CUR) (OTCQX: CURUF) is pleased to announce the creation and planned spin-out (the “ Spin-Out ”) of Premier American Uranium Inc. (“ PUR ”), currently a majority-controlled subsidiary of CUR focused on the acquisition, exploration, and development of uranium projects in Wyoming and Colorado. (Figure 1).

On May 24, 2023, the Company entered into an arrangement agreement with PUR (the “ Arrangement Agreement ”), pursuant to which among other things the Company has agreed to transfer ownership of certain indirect wholly-owned subsidiaries which hold eight U.S. Department of Energy (“ DOE ”) leases and certain patented claims located in Colorado (the “ CUR Assets ”) to PUR in exchange for 7,753,752 Class A common shares of PUR (“ PUR Shares ”), a portion of which will be distributed to the Company’s shareholders on […]

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